The Monetary Board in its Resolution No. 1127 dated September 27, 1995, approved the amendments in Subsections 1167.5 (Book I), 2167.5 (Book II), and 3167.5 (Book III) of the Manual of Regulations for Banks and Other Financial Intermediaries as follows:

"_167.5 Security Devices. Within thirty (30) days from the designation of the Security Officer in the case of a bank with less than ten (10) branches; sixty (60) days in the case of a bank with ten (10) but less than twenty (20) branches; and ninety (90) days in the case of a bank with twenty (20) or more branches, the Security Officer shall, under the direction of the bank's president, conduct a security survey and submit a report on the needed security devices in each of the bank's banking offices.

Banks shall effect the installation, maintenance and operation, as individually appropriate, of the following in each banking office:

1. A lighting system for illuminating, during the hours of darkness, the area around the vault, if the vault is visible from outside the banking office;

2. Time delay device to be installed in the cash vault or safe;

3. Tamper-resistant locks on exterior doors and windows designed to be opened;

4. An alarm system or other appropriate device for promptly notifying the nearest law-enforcement officers of an attempted or perpetrated robbery; and

5. Such other devices as the security officer shall determine to be appropriate for discouraging robberies and for assisting in the identification and apprehension of persons who commit such acts: Provided, That the security officer shall consider, among other things, the following:

1) The incidence of crimes against the particular banking office and other business establishments in the area in which the banking office is located;

2) The amount of currency or other valuables exposed to robbery;

3) The distance of the banking office from the nearest law-enforcement officers and the time ordinarily required for such law-enforcement officers to arrive at the banking office;

4) The cost of the security devices;

5) Other existing security measures in effect at the banking office; and

6) The physical characteristics of the banking office structure and its surroundings.

Each bank shall install, maintain and operate security devices which are expected to give a general level of bank protection equivalent, at least, to the standards prescribed by the Bangko Sentral in separate rules and regulations."

This Circular shall take effect immediately.

Adopted: 04 Oct. 1995

For the Monetary Board:

(SGD.) GABRIEL C. SINGSON
Governor